On September 9, SZSE and Chongqing Municipal People’s Government signed a strategic cooperation framework agreement. The two sides held in-depth exchanges on further providing targeted matchmaking and cultivation services in the capital market based on the economic development characteristics and industrial features of the city. This is another significant move made by SZSE to fully leverage the role as a hub of the capital market and the edge in innovation capital formation, to facilitate Chongqing in developing into an international financial center in the landlocked area, and to serve the high-quality development of regional economy. Tang Liangzhi, Deputy Party Secretary and Mayor of Chongqing, and Wang Jianjun, Party Secretary and Chairman of SZSE, attended the signing ceremony and the symposium.
With clear geographical advantages, Chongqing acts as a key pivot in boosting national strategies such as implementing the “Belt and Road” Initiative, promoting large-scale development in the western region in the new era, building Chengdu-Chongqing Economic Circle, and developing the Yangtze Economic Belt. In recent years, Chongqing has regarded the building of an international financial center in the landlocked area as a prerequisite for high-quality development and given full play to the financial sector in leading local economic development. Besides, it has implemented the strategic action plan for innovation-driven development, kept improving capabilities in economic innovation and competitiveness, and accelerated the development of such strategic emerging industries as big data, AI, software and integrated circuits, high-end equipment manufacturing, and biological medicine in pursuit of industrial upgrading and high-quality regional economy development.
SZSE has been endeavoring in serving the cultivation and development of the capital market in Chongqing for a long time. The two sides have been in close communication and good partnership, making achievements in many cooperative projects. At present, there are 26 firms from Chongqing listed on SZSE which attracts many of the city’s listed enterprises, with a total market value of CNY 550.6 billion. In 2019, Chongqing issued local municipal bonds on SZSE with a total amount of CNY 20.6 billion. Thanks to the great support of local governments at all levels, Chongqing Local Financial Supervision and Administration Bureau, and CSRC Chongqing Branch, SZSE successfully unveiled its SZSE Chongqing Service Center and held “Capital Market Services Week in Chongqing”. The event covered over 220 enterprises planned listing from 25 districts and counties in Chongqing, greatly improving the localization service capacity of SZSE.
Under the agreement, both parties will further deepen their partnership on top of the current basis. Specifically, we will invest more in cultivating enterprises planned listing, improving the quality of listed companies, collaborating in fixed income and fund products, building regional equity market, match-making in investment and financing roadshow, conducting investor education, talent exchanges etc. By fully tapping into better resource distribution, SZSE will assist Chongqing in implementing the new development philosophy and the development strategies of the “Belt and Road” and “City Clusters around Chengdu and Chongqing”, supporting the listing of technologically innovative enterprises, and pushing forward the transformation and upgrading of traditional industries. By doing so, we will provide better quality capital market services for Chongqing to build into an international financial center in the landlocked area that is Western China-based and ASEAN-oriented.
By dint of long-term explorations and practices, SZSE has formed a well-established chain for cultivating enterprises to get listed. In particular, we have developed obvious advantages in market system, industry system, system for information disclosure rules, and service system. Additionally, we customize service programs considering the industrial and financial development features of regions to effectively improve the accuracy of localization service. Therefore, we have accumulated abundant experience in supporting local economic development. Next, according to the general plans of the CSRC for comprehensively deepening reform, SZSE will continue to work around the fundamental task of serving the real economy with the financial industry. On one hand, we will actively coordinate with national strategies and match local demands, continue to strengthen partnerships with local governments, and expand the depth and width of localization services. On the other hand, we will create new service modes, improve the resource allocation and long-term mechanism for enterprise cultivation, and help improve the quality of listed companies, in a bid to play our role as a hub in advancing the high-level circulation of technology, capital, and real economy.